Plus500 Has Reached a Settlement Agreement with Belgium’s Regulator
Plus500 (76.4% of retail CFD accounts lose money) has reached a settlement agreement with the Belgium regulator FSMA, Financial Services and Markets Authority, for the amount of €550.000.
The settlement came after months of discussions between Plus500 and FSMA. According to the FSMA, Plus500 offered CFDs on Belgian territory without a regulatory approval. Moreover, Plus500 did not submit to the FSMA for approval of any advertisement or other document that are related to CFDs or other leveraged products., while Plus500 denied that it had done so. The settlement put the matter behind both sides.
The settlement was reached in the context of the public offering of investment instruments, including CFDs as offered by the company, in Belgium.
Plus500 did not convey an admission of guilt or non-compliance, claiming that it had correctly implemented all necessary procedures to ultimately comply with legislation in Belgium.
Among all European countries, Belgium has the most aggressive policy towards leveraged trading products. The agreement confirms that the UK listed company could legally operate in Belgium.